International Paper Completes Mill Divestitures

Tuesday, July 03, 2012

Press release from the issuing company

International Paper today announced that it has finalized the sale of its Ontario and Oxnard, California containerboard mills to New-Indy Containerboard LLC, along with its New Johnsonville, Tennessee containerboard mill to Hood Container Corporation. By completing these transactions, the company satisfies its divestiture obligations under its February 2012 settlement agreement with the U.S. Department of Justice. The settlement agreement, in which the company agreed to divest the three mills, was entered into in connection with the company's acquisition of Temple-Inland.